The tax-deferred investing accounts, which launched on July 4, can include a one-time $1,000 deposit from the Treasury Department for kids born between 2025 and 2028. Other funds may also be available for qualifying families.
But because signing up for a Trump Account has required families to "opt in" by filing IRS Form 4547 with their tax return or via TrumpAccounts.gov, overall participation rates, especially among low-income families, has been low, research shows.
The Social Security Administration previously said it would introduce a process to enroll newborns at the hospital at the same time families request a Social Security number during the birth registration process.
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